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Article: Is corporate governance different for bank holding companies? (Part 2: the governance of banks).
- Article from:
- Federal Reserve Bank of New York Economic Policy Review
- Article date:
- April 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Federal Reserve Bank of New York. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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1. INTRODUCTION
In the wake of the recent corporate scandals, corporate governance practices have received heightened attention. Shareholders, creditors, regulators, and academics are examining the decision-making process in corporations and other organizations and are proposing changes in governance structures to enhance accountability and efficiency. To the extent that these proposals are based on academic research, they generally draw upon a large body of studies on the governance of firms in unregulated, non financial industries.
Financial institutions, however, are very different from firms in unregulated industries, such as manufacturing firms. ...